You're spot on, Ben - I hadn't thought of it in exactly that way before, but if they could change a couple of greens a year I think I would indeed join up as a member. (For 90 years or so it was a private club, right in the centre of town; now it is a semi private). In the years before significant earthmoving, the architect seemed to have taken good advantage of what the land gave him (though why the total lack of bunkers and why not more interest/challenge on the greens I don't know). Just a few examples, good and not-so-good:
No 1 - a 370+ yard Par 4 where a good drive will land on a slope leaving you a downhill and sidehill lie...and an approach to a green that is as flat as a pancake.
No 2 - a 500+ yard Par 5, with a blind tee-shot over a 20-30 foot rise where a good drive leaves a blind second shot as well, down over a 20-30 foot fall off...and then to a flat green that tilts just a little back to front
No 3 - a 350 yard Par 4 that goes 30+ feet uphill and leaves a semi blind 2nd ....to a green that is as flat as a pancake
No 4 - a 420 yard Par 4 that feels longer because, though it is downhill, the fairway rises up just around the 260 mark and stops the ball dead...with a second to a pretty cool punchbowl green
(Nos 5, 6, and 7 I can hardly remember, save for the pancake greens)
No 8 - a 330 yard sharp dogleg right (around a high and natural hill, covered in trees) where the fairway runs out at about 200 yards and then turns right to a very elevated green and your second shot (after a good iron/hybrid off the tee) is from an uphill lie....to a green that is basically flat
No 9 - a similar length dogleg, but this time down into a valley and then back up to a striking two-tired green that is also highly sloped from back to front (other than at Crystal Downs, I've personally never played a green that was as sloped or as scary....and if they mowed it closer and got the speed up, it would be impossible to keep any putt from the upper tier down to the lower one on the green).
A perfect candidate, as you suggest, for slow and steady changes to some greens and bunkering that would pay big dividends I think. Maybe few in town are interested in gca or participate here, but I think most every golfer would appreciate/recognize the added fun and challenge that these changes provided, changes that would highlight for most golfers the strengths that are already present.
Peter